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Capital Markets News, Data & Analysis | GlobalCapital free trial log in Home News News Channels SSA FIG Securitization Corporate Bonds SRI / Green Bonds Syndicated Loans LevFin Emerging Markets GlobalCapital China Equity Derivatives People & Markets Comment Covid-19 Crisis Data Data Channels SSA FIG Securitization Corporate Bonds SRI / Green Bonds Syndicated Loans LevFin Emerging Markets GlobalCapital China Equity Bank Profiles Special Reports Polls & Awards League Tables GlobalMarkets GC Asia Free Trial Close HOME Investment Grade Scale of European loan covenant waivers revealed More than one in 10 European companies had to renegotiate covenant waivers on loans to offset a collapse in earnings from the pandemic, and loans bankers say they are still getting requests from borrowers to amend terms. 12.30 PM Africa Ghana mandates for dollars in test of HY appetite The Republic of Ghana, one of the few African sovereigns to have tapped capital markets last year, has mandated banks to arrange a dollar bond this week. The multi-tranche bond, market participants say, will demonstrate investors' appetite for high yield credit. 12.00 PM Equity-Linked Dufry issues new convertible as old bond converts early Dufry, the Swiss duty-free concession operator, has issued a new five-year Sfr500m convertible bond as part of a refinancing of the Sfr350m three-year convertible it was issued in April last year following the initial onset of the pandemic, which caused a collapse in the company’s share price. 12.00 PM Latin America Creditors sue Province of Buenos Aires but market bets on resolution Investors holding over a quarter of the Province of Buenos Aires’ international bonds said they would “vigorously pursue” the legal proceedings that they began on Tuesday against Argentina’s largest province, which has been in default since April 2020. But bonds rallied as some saw the move as a sign that a resolution was nearing. 08.00 AM Keeping tabs Rising to the top, getting through rock bottom and when CBs went too fast This week in Keeping Tabs — on International Women's Day — damning research into C-suite diversity and six women discussing gender equality in banking; a warning from history about real-time settlement and finally, a podcast from a man convicted in a national scandal about how to deal with crises. 08 Mar 2021 Crisis Talk UK DMO leans on crisis know-how to meet huge remit 12 Mar 2021 Spain's funding chief: 'Covid was like the proverbial alien invasion' 04 Mar 2021 Covid and SMEs with Andre Hakkak, chief executive of White Oak Global Advisors 15 Feb 2021 People & Markets ‘Mentally I’m in a really dark place’ — Goldman Sachs analysts’ horror pitch deck Thirteen first year analysts at Goldman Sachs have released a pitch deck describing their working conditions at the bank, with 77% of them claiming to have been victims of workplace abuse. 18 Mar 2021 HSBC sharpens Net Zero policy after shareholder resolution HSBC has agreed to tighten its policies on climate transition and coal funding, in response to a shareholder motion calling on it to phase out fossil fuel financing. The move underlines the power investors have to accelerate change on environmental and social issues using shareholder votes, and could raise the bar for other banks. 11 Mar 2021 Investors launch Net Zero framework with threat of divestment The prospect of investors exerting real pressure on companies to reduce greenhouse gas emissions, including divesting from big polluters, came a step closer on Wednesday with the release of the Net Zero Investment Framework, a map to guide investors on the journey to carbon neutrality. 10 Mar 2021 Davy closes bond desk after multiple MiFID breaches, Ireland PD role withdrawn Davy, the Irish brokerage firm, has shut its bond desk with immediate effect following a damning investigation by the Central Bank of Ireland which found a group of employees breached markets regulation for personal financial again over a period of two years. 09 Mar 2021 TD’s Rehman heads back to Toronto for SSA post Sameer Rehman, director of debt and capital markets at TD Securities in London, is heading back to Toronto after 12 years in the UK to focus on Canadian public sector borrowers. 02 Mar 2021 Leaders Tackling inflated orders is everyone’s duty Inflated order books are only becoming more prevalent thanks to the European Central Bank’s increased firepower. 18 Mar 2021 Will regulators rebuff the buffer review? Banks shouldn’t get their hopes up for radical changes to the capital buffer system. 18 Mar 2021 Southpaw by David Rothnie Wells Fargo lays the groundwork for EMEA CIB push Wells Fargo has developed a coherent strategy for EMEA as it looks to meet demand for more choice from clients. But can it stand out from the crowd, asks David Rothnie. 17 Mar 2021 COPPLESTONE'S CARTOON Greece completes curve with 30 year stunner despite tricky backdrop 17 Mar 2021 Bond Comments Greece EUR2.5bn 1.875% Jan 52 18 Mar 2021 AfDB USD2.5bn 0.875% Mar 26 18 Mar 2021 KfW CNH1.25bn 2.7% Mar 24 18 Mar 2021 France EUR7bn 0.5% Jun 44 green bond 18 Mar 2021 BPCE GBP450m 1% Dec 2025 senior 18 Mar 2021 More Bond Comments The View Turkey: a good ECM market hamstrung by bad politics As emerging market IPOs continue to draw investors to countries in which many have never invested before, Turkey remains an obvious absentee. The country could be an EM equity giant but bad political decisions by its government continue to hinder Turkish businesses. 23 Mar 2021 The View Turkish exceptionalism: how to throw away credibility The View No first-day IPO pop? No problem The View What the Goldman 13 show us about financial sweatshops Special Reports The HSBC Asia high yield bond roundtable 08 Feb 2021 Review of the Year 2020 17 Dec 2020 Investing in Indonesia 17 Dec 2020 The LBBW Public Sector Issuers’ Roundtable 11 Dec 2020 The Standard Chartered high yield bond roundtable 07 Dec 2020 CEE Sovereign Issuance 06 Oct 2020 Investing in Egypt 30 Sep 2020 GlobalCapital Bond Awards 2020 30 Sep 2020 The Vistra structured finance roundtable 30 Sep 2020 GlobalCapital’s Global Derivatives Awards 2020 23 Sep 2020 Japan in the Capital Markets Sep 2020 18 Sep 2020 The GlobalCapital Covered Bonds Awards 2020 17 Sep 2020 SSA Funding scorecard: supranationals This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the end of March. 10.30 AM Rentenbank bags rare dollar five year as Treasuries rally PMM: Price sensitivity takes over FIG Athene just covered on return to sterling Athene Global Funding encountered slim demand after circling back to the sterling market on Wednesday, with lead managers citing a ‘challenging environment’ for new issues in Europe. 01.00 PM Axa taps thirsty covered bond market NatWest takes action on legacy debt as PRA deadline looms Securitization Ivy Hill prices a MM CLO after three years of break Ivy Hill Asset Management, an affiliate of Ares Management, has returned to the CLO primary market after a three year hiatus with a CLO backed by loans to middle market companies. 23 Mar 2021 Blackstone brings European logistics CMBS as spreads tighten Non-bank credit card lender completes inaugural ABS Corporate Bonds LondonMetric sells US private placements LondonMetric, the listed UK real estate firm, has sold £380m of US private placements, according to market sources. 23 Mar 2021 King’s College closes US private placement PMM: Price sensitivity takes over SRI / Green Bonds Blackrock lays out ESG securitization scorecard The European securitization market is seeing the largest increase in ESG deals since the market’s inception, but it still needs to see more ESG-friendly assets before expecting more issuance. Peter Winning, portfolio manager and analyst in BlackRock's EMEA ABS team spoke with GlobalCapital to outline what criteria the world’s largest asset manager uses to before investing in an ESG securitization. 04.45 PM Vantage and Nidec ...